TrustCo Bank Corp NY Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
July 24, 2023 at 04:00 pm EDT
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TrustCo Bank Corp NY reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported net interest income was USD 44.05 million compared to USD 43.06 million a year ago. Net income was USD 16.37 million compared to USD 17.87 million a year ago. Basic earnings per share from continuing operations was USD 0.86 compared to USD 0.93 a year ago. Diluted earnings per share from continuing operations was USD 0.86 compared to USD 0.93 a year ago.
For the six months, net interest income was USD 91.02 million compared to USD 83.16 million a year ago. Net income was USD 34.12 million compared to USD 34.96 million a year ago. Basic earnings per share from continuing operations was USD 1.79 compared to USD 1.82 a year ago. Diluted earnings per share from continuing operations was USD 1.79 compared to USD 1.82 a year ago.
TrustCo Bank Corp NY is a savings and loan holding company. The Company operates, through its principal subsidiary, Trustco Bank (the Bank). The Bank is a federal savings bank engaged in providing general banking services to individuals and businesses. The Bank operates over 156 automatic teller machines and approximately 140 banking offices in New York, New Jersey, Vermont, Massachusetts, and Florida. The Bankâs business consists of accepting deposits and making loans and investments. The Bank also lends in Essex and Fulton counties, Passaic counties, and Sumter counties. The Bank provides a range of both personal and business banking services, including a full array of deposit products for both individuals and businesses. Trustco Bank also offers trust and investment services through its Financial Services Department. In addition, the Companyâs Financial Services Department offers a range of retirement planning, and trust and estate administration services.